Landscape Capital Management L.L.C. Makes New $5.81 Million Investment in Churchill Downs, Incorporated $CHDN

Key Points

• Landscape Capital Management L.L.C. has acquired a new position in Churchill Downs, purchasing 52,289 shares valued at approximately $5.8 million, representing about 0.07% of the company.
• Several institutional investors have significantly increased their stakes in Churchill Downs, with 82.59% of the stock now owned by institutional entities.
• Churchill Downs reported an earnings per share (EPS) of $3.10 for the last quarter, exceeding estimates and showing a year-over-year revenue growth of 4.9%.

Landscape Capital Management L.L.C. acquired a new position in shares of Churchill Downs, Incorporated (NASDAQ:CHDN - Free Report) during the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor acquired 52,289 shares of the company's stock, valued at approximately $5,808,000. Landscape Capital Management L.L.C. owned approximately 0.07% of Churchill Downs at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of the company. Dimensional Fund Advisors LP increased its position in shares of Churchill Downs by 15.1% during the 4th quarter. Dimensional Fund Advisors LP now owns 509,743 shares of the company's stock valued at $68,075,000 after purchasing an additional 66,731 shares during the last quarter. Coldstream Capital Management Inc. increased its position in shares of Churchill Downs by 10.6% during the 4th quarter. Coldstream Capital Management Inc. now owns 3,773 shares of the company's stock valued at $504,000 after purchasing an additional 363 shares during the last quarter. Northern Trust Corp increased its position in shares of Churchill Downs by 20.5% during the 4th quarter. Northern Trust Corp now owns 589,710 shares of the company's stock valued at $78,750,000 after purchasing an additional 100,337 shares during the last quarter. Utah Retirement Systems increased its position in shares of Churchill Downs by 2.7% during the 4th quarter. Utah Retirement Systems now owns 3,800 shares of the company's stock valued at $507,000 after purchasing an additional 100 shares during the last quarter. Finally, Comerica Bank increased its position in shares of Churchill Downs by 16.1% during the 4th quarter. Comerica Bank now owns 152,346 shares of the company's stock valued at $20,344,000 after purchasing an additional 21,083 shares during the last quarter. 82.59% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on CHDN shares. Susquehanna boosted their target price on Churchill Downs from $121.00 to $126.00 and gave the company a "positive" rating in a research report on Wednesday, July 23rd. Macquarie boosted their target price on Churchill Downs from $150.00 to $155.00 and gave the company an "outperform" rating in a research report on Monday, July 28th. JMP Securities cut their price objective on Churchill Downs from $144.00 to $138.00 and set a "market outperform" rating on the stock in a research report on Tuesday, May 27th. JPMorgan Chase & Co. began coverage on Churchill Downs in a research report on Monday, June 23rd. They issued an "overweight" rating and a $116.00 price objective on the stock. Finally, Truist Financial cut their price objective on Churchill Downs from $150.00 to $145.00 and set a "buy" rating on the stock in a research report on Wednesday, July 16th. Ten research analysts have rated the stock with a Buy rating, According to data from MarketBeat, Churchill Downs has an average rating of "Buy" and a consensus price target of $136.50.

Churchill Downs Stock Up 0.8%

Shares of CHDN traded up $0.87 during midday trading on Monday, reaching $103.73. 506,509 shares of the stock were exchanged, compared to its average volume of 504,856. Churchill Downs, Incorporated has a 52 week low of $85.58 and a 52 week high of $150.21. The company has a current ratio of 0.60, a quick ratio of 0.60 and a debt-to-equity ratio of 4.74. The company's 50 day moving average is $104.68 and its two-hundred day moving average is $103.80. The company has a market capitalization of $7.27 billion, a P/E ratio of 17.82, a PEG ratio of 1.94 and a beta of 0.86.

Churchill Downs (NASDAQ:CHDN - Get Free Report) last issued its quarterly earnings data on Wednesday, July 23rd. The company reported $3.10 earnings per share for the quarter, topping analysts' consensus estimates of $3.03 by $0.07. The firm had revenue of $934.40 million during the quarter, compared to analysts' expectations of $924.36 million. Churchill Downs had a return on equity of 41.46% and a net margin of 15.22%.The firm's quarterly revenue was up 4.9% on a year-over-year basis. During the same period in the prior year, the business posted $2.89 EPS. On average, sell-side analysts anticipate that Churchill Downs, Incorporated will post 6.92 earnings per share for the current year.

Churchill Downs Profile

Churchill Downs Incorporated operates as a racing, online wagering, and gaming entertainment company in the United States. It operates through three segments: Live and Historical Racing, TwinSpires, and Gaming. The company operates pari-mutuel gaming entertainment venues; TwinSpires, an online wagering platform for horse racing, sports, and iGaming; retail sports books; casino gaming; and Terre Haute Casino Resort.